(1) The Chartered Institute of Taxation (Ghana) established under the Professional Bodies Registration Act, 1973 (NRCD 143) is hereby repealed.

(2) Despite the repeal of the Chartered Institute of Taxation (Ghana), the Regulations, bye-laws, notices, orders, directions, appointments or any other act lawfully made or done under the repealed enactment and in force immediately before the commencement of this Act shall be considered to have been made or done under this Act and shall continue to have effect until reviewed, cancelled or terminated.

(3) Registers in use immediately before the commencement of this Act and every document prepared or issued under NRCD 143 shall continue in force as if kept, prepared or issued under the corresponding provisions of this Act.

(4) The Council of the Chartered Institute of Taxation (Ghana) shall on the commencement of this Act be the first Council of the Institute and shall within three months after the commencement of this Act convene a general meeting of members of the Institute for the purpose of electing a new Council.

(5) Members and Fellows of the Chartered Institute of Taxation (Ghana) shall be members of the Institute as Ordinary members and Fellows respectively after the commencement of this Act

(6) A person who holds a qualification approved by the Council and is practicing as a tax practitioner prior to the commencement of this Act may, within three months after the commencement of this Act, submit an application for membership of the Institute to the Council and on approval by the Council, shall be registered to continue as a tax practitioner.